TSXV:CAV.H - Post by User
Comment by
mining_pays_my_billson Apr 02, 2014 9:33am
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Post# 22399584
RE:Why would Tom be hanging around this long
RE:Why would Tom be hanging around this longTom's been on the BOD or been president/VP/CEO of a lot of companies. From what I've researched I haven't found any that have gone belly up. Several have been JV or buy-out targets however- Triton Mining (amalgamated with Black Hawk Mining to form a company that is still operational and profitable today), Wright Engineers (bought by giant Fluor-Daniels), and Kilborn Engineering (bought by giant SNC-Lavalin). He's a pretty smart guy i think, and has a track record of success in maximizing shareholder value. I don't know if there'll be a buy out in the future, but I'd doubt if there was insolvency. I really think BAJ shareholders who are buying in at these levels will be rewarded in the future. I guess they have to say it's a "going concern" so long as there's no 'guarantee' that the project will receive additional funding with each successive cost-over run. But, really, who's gonna' walk away from a 1.8B $ project just cause you can't spare a few more million $? KORES was part of the JV that built Ambatovy, a nearly $6B project, so they have deep pockets, and they NEED this mine built and producing according to their website.
Personally (in my opinion) I think this is a great opportunity.